Titan Machinery Inc. $TITN Shares Sold by Voss Capital LP

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Voss Capital LP lessened its holdings in shares of Titan Machinery Inc. (NASDAQ:TITN - Free Report) by 41.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 398,003 shares of the company's stock after selling 286,456 shares during the quarter. Voss Capital LP owned 1.72% of Titan Machinery worth $6,782,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Russell Investments Group Ltd. grew its stake in Titan Machinery by 51.2% during the 4th quarter. Russell Investments Group Ltd. now owns 2,605 shares of the company's stock valued at $37,000 after purchasing an additional 882 shares in the last quarter. New York State Common Retirement Fund boosted its stake in Titan Machinery by 42.8% during the 1st quarter. New York State Common Retirement Fund now owns 4,674 shares of the company's stock valued at $80,000 after acquiring an additional 1,400 shares during the last quarter. GAMMA Investing LLC boosted its stake in Titan Machinery by 6,432.3% during the 1st quarter. GAMMA Investing LLC now owns 12,150 shares of the company's stock valued at $207,000 after acquiring an additional 11,964 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Titan Machinery by 29.3% during the 4th quarter. Wells Fargo & Company MN now owns 12,397 shares of the company's stock valued at $175,000 after acquiring an additional 2,808 shares during the last quarter. Finally, LPL Financial LLC bought a new position in Titan Machinery during the 4th quarter valued at $175,000. Institutional investors and hedge funds own 78.38% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on TITN. B. Riley increased their price objective on shares of Titan Machinery from $19.00 to $22.00 and gave the company a "neutral" rating in a research note on Tuesday, May 27th. Wall Street Zen downgraded shares of Titan Machinery from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Finally, Lake Street Capital reiterated a "hold" rating and set a $18.00 price objective (up from $15.00) on shares of Titan Machinery in a research note on Friday, May 23rd. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $22.25.

Titan Machinery Stock Performance

Shares of NASDAQ:TITN traded up $1.15 on Friday, reaching $20.58. 260,572 shares of the company's stock were exchanged, compared to its average volume of 118,936. The firm has a market capitalization of $474.99 million, a price-to-earnings ratio of -7.83 and a beta of 1.37. Titan Machinery Inc. has a fifty-two week low of $12.50 and a fifty-two week high of $23.41. The business's 50-day moving average is $19.77 and its two-hundred day moving average is $18.33. The company has a quick ratio of 0.18, a current ratio of 1.33 and a debt-to-equity ratio of 0.33.

Titan Machinery (NASDAQ:TITN - Get Free Report) last issued its earnings results on Thursday, May 22nd. The company reported ($0.58) earnings per share for the quarter, topping analysts' consensus estimates of ($0.79) by $0.21. The company had revenue of $594.34 million for the quarter, compared to analysts' expectations of $445.76 million. Titan Machinery had a negative net margin of 2.23% and a negative return on equity of 8.22%.

Titan Machinery Profile

Titan Machinery Inc owns and operates a network of full service agricultural and construction equipment stores in the United States, Europe, and Australia. It operates through four segments: Agriculture, Construction, Europe, and Australia. The company sells new and used equipment, including agricultural and construction equipment manufactured under the CNH Industrial family of brands, as well as equipment from various other manufacturers.